EURUSD
The Euro returns below 1.1800 handle, following yesterday’s choppy trading, which ended in long-legged Doji. Initial dip to fresh low at 1.1726 was followed by sharp bounce to 1.1845, where rally stalled. Hourly studies are gaining bearish tone, along with negative setup of larger timeframes technicals, keeping downside in near-term focus. New low at 1.1726 and round-figure 1.17 level are the sole obstacles on the way towards target at 1.1640, 2005 low. Initial barrier lies at 1.18, above which, more significant 1.1845, yesterday’s high / daily 10SMA / Tenkan-sen, is expected to cap, guarding 1.1870 breakpoint, high of 12 Jan.
Res: 1.1800; 1.1845; 1.1870; 1.1895
Sup: 1.1752; 1.1726; 1.1700; 1.1640
GBPUSD
Near-term studies regained traction on yesterday’s fresh rally, which broke above two-day directionless trade, with yesterday’s positive close, which came after double-Doji, signaling possible stronger recovery action, ahead of attack at psychological 1.50 support. Yesterday’s break and close above daily 10SMA, focuses pivotal 1.5317 lower top, above which to confirm reversal and open daily 20SMA, currently at 1.5378. However, bearish setup of daily chart studies, requires caution, as early rejection under pivotal barriers, would signal lower top formation and fresh acceleration lower.
Res: 1.5244; 1.5267; 1.5317; 1.5350
Sup: 1.5181; 1.5143; 1.5100; 1.5075
USDJPY
The pair accelerated lower yesterday and posted new low at 116.05, looking for final push towards 115.55 breakpoint, low of 16 Dec and Fibonacci 38.2% retracement of 105.18/121.83 ascend. However, yesterday’s Hammer requires caution, with subsequent bounce so far seen as corrective phase, preceding fresh push lower, as rallies were so far capped at 117.93, yesterday’s high. Break here and 118.36, daily cloud top, would sideline bears and signal stronger recovery. Otherwise, expect lower top formation and fresh attempt lower, as daily studies are turning bearish and daily 10/20SMA’s bear cross at 119.12, maintains pressure.
Res: 117.93; 118.36; 118.84; 119.30
Sup: 117.42; 117.00; 116.67; 116.05
AUDUSD
The pair accelerates higher and probes above 0.82 barrier, after reversal from 0.8253, upside rejection, found support at 0.8066. Positive near-term technicals favor attack at 0.8253, with close above, to confirm breakout from near-term congestion and spark stronger correction from 0.8031 double-bottom. Daily studies are gaining traction, with today’s trading being contained by daily 20SMA and formation of 10/20SMA’s bull-cross, expected to underpin rally for eventual break higher. Conversely, repeated upside failures, to signal prolonged consolidation, with higher base at 0.8130, marking solid support and near-term breakpoint.
Res: 0.8253; 0.8300; 0.8322; 0.8373
Sup: 0.8200; 0.8175; 0.8130; 0.8100
The Euro returns below 1.1800 handle, following yesterday’s choppy trading, which ended in long-legged Doji. Initial dip to fresh low at 1.1726 was followed by sharp bounce to 1.1845, where rally stalled. Hourly studies are gaining bearish tone, along with negative setup of larger timeframes technicals, keeping downside in near-term focus. New low at 1.1726 and round-figure 1.17 level are the sole obstacles on the way towards target at 1.1640, 2005 low. Initial barrier lies at 1.18, above which, more significant 1.1845, yesterday’s high / daily 10SMA / Tenkan-sen, is expected to cap, guarding 1.1870 breakpoint, high of 12 Jan.
Res: 1.1800; 1.1845; 1.1870; 1.1895
Sup: 1.1752; 1.1726; 1.1700; 1.1640
GBPUSD
Near-term studies regained traction on yesterday’s fresh rally, which broke above two-day directionless trade, with yesterday’s positive close, which came after double-Doji, signaling possible stronger recovery action, ahead of attack at psychological 1.50 support. Yesterday’s break and close above daily 10SMA, focuses pivotal 1.5317 lower top, above which to confirm reversal and open daily 20SMA, currently at 1.5378. However, bearish setup of daily chart studies, requires caution, as early rejection under pivotal barriers, would signal lower top formation and fresh acceleration lower.
Res: 1.5244; 1.5267; 1.5317; 1.5350
Sup: 1.5181; 1.5143; 1.5100; 1.5075
USDJPY
The pair accelerated lower yesterday and posted new low at 116.05, looking for final push towards 115.55 breakpoint, low of 16 Dec and Fibonacci 38.2% retracement of 105.18/121.83 ascend. However, yesterday’s Hammer requires caution, with subsequent bounce so far seen as corrective phase, preceding fresh push lower, as rallies were so far capped at 117.93, yesterday’s high. Break here and 118.36, daily cloud top, would sideline bears and signal stronger recovery. Otherwise, expect lower top formation and fresh attempt lower, as daily studies are turning bearish and daily 10/20SMA’s bear cross at 119.12, maintains pressure.
Res: 117.93; 118.36; 118.84; 119.30
Sup: 117.42; 117.00; 116.67; 116.05
AUDUSD
The pair accelerates higher and probes above 0.82 barrier, after reversal from 0.8253, upside rejection, found support at 0.8066. Positive near-term technicals favor attack at 0.8253, with close above, to confirm breakout from near-term congestion and spark stronger correction from 0.8031 double-bottom. Daily studies are gaining traction, with today’s trading being contained by daily 20SMA and formation of 10/20SMA’s bull-cross, expected to underpin rally for eventual break higher. Conversely, repeated upside failures, to signal prolonged consolidation, with higher base at 0.8130, marking solid support and near-term breakpoint.
Res: 0.8253; 0.8300; 0.8322; 0.8373
Sup: 0.8200; 0.8175; 0.8130; 0.8100
Recommended Content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Ethena Labs launches new UStb stablecoin backed by BlackRock's BUIDL token
Ethena Labs announced on Thursday that it has released a new stablecoin product, UStb. The new stablecoin will be fully collateralized by BlackRock's USD Institutional Digital Liquidity Fund and function similarly to a traditional stablecoin.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.